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Tax Preparation
Your CPAs Guide To The New ERC Crisis
IRS Announces Moratorium on the Employee Retention Credit and Provides Guidance for Civil Penalty Amnesty to Withdrawing Improper Claims, Also Known As - Don’t Deposit That Check and Hire Legal Counsel The expansion and strong marketing tactics of good-for-nothing “accounting advisors” who encouraged taxpayers to qualify for the Employee Retention Credit (“ERC”) when they did not technically qualify has caused…
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Supreme Court Case Renews Focus On Tax Challenges For Americans Living Abroad
Ever since “Under the Tuscan Sun,” I’ve imagined channeling my inner Diane Lane and restoring an old Italian farmhouse. I’m guessing that many Americans assume that’s what living abroad is like (thanks, Frances). But for the estimated nine million Americans who live abroad, everyday life is less about busted plumbing…
A Canadian Tax That Americans Will Love To Hate
As a kid growing up in suburban Detroit, it was frequently noted that our town “looked down” on Canada . . . literally. It was a bad joke based on a geographical quirk. We lived in the only part of the United States that was due north of Canadian soil.…
Why Should We Have To Pay Somebody To Help Us File A Tax Return?
The growing war between the IRS and the commercial tax preparation industry over the agency’s efforts to create a free, in-house tax filing system got me thinking about a more fundamental question: Why should we have to pay a commercial third party to help us perform a civic duty? Do…
Why There Are Ads About The Hydrogen Tax Credit Rules
The charitable reading of the grant of statutory authority in the clean hydrogen credit under section 45V(f) is that Congress gave Treasury considerable regulatory leeway to tell claimants how to determine the life cycle greenhouse gas emissions that the entire credit hinges on. The less charitable interpretation is that Congress…
Private Company Stock Option Exercise Strategies: 5 Rules Of Thumb
Startup companies rely heavily on stock options to recruit, motivate, and retain the best employees and executives. The stock acquired can become very valuable if the company goes public or is acquired. However, options in private companies are tricky, given the lack of liquidity to trade the stock and the…
Florida Lottery Ticket Wins $1.58 Billion, $493.5 Million After Taxes
A winning ticket for the $1.58 billion Mega Millions jackpot was sold in Florida. If you are the winner of the $1.58 billion Mega Millions jackpot, how much do you collect? Your first answer might be $1.58 billion. But in fact, you actually would collect that amount—before taxes—only if you…
Unpacking The President’s Tax Priorities
Tax Notes White House reporter Alexander Rifaat discusses the Biden administration’s economic plan called “Bidenomics” and its effect on tax. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor in chief of Tax Notes Today International. This week: parsing priorities. With just over two and a half years…
Equal Rights Led To American Women’s Soccer Success
The United States women have been narrowly knocked out of soccer’s World Cup in the round of 16, the earliest a US team has ever exited the tournament. And the always-divisive Donald Trump blamed the loss (somehow) on liberal policies, tweeting that “WOKE EQUALS FAILURE” (his caps). But in fact…
What You Need To Know About Electric Vehicle (EV) Tax Credits
My husband is buying a new car today. He considered buying a new electric vehicle (EV) but ultimately opted not to—another model caught his eye. But increasingly, consumers are opting in—in 2022, more than 750,000 new EVs were registered in the U.S. With a whopping 13.4 million light vehicles sold…
Downgrade Should Be A Wake-Up Call To Washington — Even If It’s Wrong
How concerned should policymakers and their constituents be about Fitch Ratings Agency’s decision to downgrade the United States credit rating from AAA to AA+ last week? The White House brushed it off, saying Fitch “defies reality” to downgrade U.S. credit at a time when the country is experiencing “the strongest…
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Creative Ways Startups Can Earn Funding in Tough Economic Times
In a declining economy, startups face an uphill battle when it comes to securing funding.…
I Asked AI to Create a Plan for a Fake Company — The Results Blew Me Away, But Not in the Way You Might Think
With all of the recent news about artificial intelligence (AI), it got me thinking about…
Ideas To Transform You From Good To Better To Best
A while back, I took a couple of my grandchildren on a tour of the…
5 Crucial Challenges Startups Must Overcome
Startups face numerous challenges on their journey to success, and failing to overcome any one…